Copper and Oil

See Annotated Chart on the Big Picture

That’s the dilemma… is the lag an opportunity for oil to make up ground to eventually mirror the copper move or is the fact that its so far behind indicative of its relative weakness vis a vis copper and its own innate weakness here… it is funny to talk about oil, having gone from 35 to 75, as being innately weak, but then again the S&P just went from 670 to 1030 and you can argue that its innately weak here itself…